Walt Disney (NYSE:DIS) Trading Up 2.4% Following Strong Earnings

The Walt Disney Company (NYSE:DIS)’s share price was up 2.4% during trading on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $105.80 and last traded at $104.57. Approximately 6,003,279 shares traded hands during trading, a decline of 40% from the average daily volume of 10,017,898 shares. The stock had previously closed at $102.09.

The entertainment giant reported $1.45 EPS for the quarter, topping the consensus estimate of $1.21 by $0.24. The company had revenue of $23.62 billion during the quarter, compared to the consensus estimate of $23.15 billion. Walt Disney had a return on equity of 9.95% and a net margin of 6.07%. The firm’s revenue for the quarter was up 7.0% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DIS. Needham & Company LLC restated a “buy” rating and issued a $125.00 price target on shares of Walt Disney in a research note on Thursday. Rosenblatt Securities restated a “buy” rating and set a $135.00 price target on shares of Walt Disney in a report on Monday, February 10th. Barclays lifted their price target on shares of Walt Disney from $115.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday. Morgan Stanley upped their price objective on shares of Walt Disney from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Wolfe Research upgraded shares of Walt Disney from a “peer perform” rating to an “outperform” rating and set a $112.00 price target for the company in a research note on Monday, April 21st. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $123.54.

Hedge Funds Weigh In On Walt Disney

Several institutional investors and hedge funds have recently modified their holdings of the business. Trek Financial LLC grew its holdings in shares of Walt Disney by 479.9% in the fourth quarter. Trek Financial LLC now owns 36,320 shares of the entertainment giant’s stock valued at $4,044,000 after purchasing an additional 30,057 shares during the period. Brookstone Capital Management raised its stake in shares of Walt Disney by 10.5% in the fourth quarter. Brookstone Capital Management now owns 140,883 shares of the entertainment giant’s stock valued at $15,687,000 after acquiring an additional 13,339 shares in the last quarter. Greystone Financial Group LLC boosted its holdings in Walt Disney by 13.3% in the fourth quarter. Greystone Financial Group LLC now owns 85,187 shares of the entertainment giant’s stock valued at $9,486,000 after purchasing an additional 9,967 shares during the period. Avanza Fonder AB acquired a new position in shares of Walt Disney during the fourth quarter worth about $15,125,000. Finally, FourThought Financial Partners LLC purchased a new stake in shares of Walt Disney during the 4th quarter worth $446,000. Hedge funds and other institutional investors own 65.71% of the company’s stock.

Walt Disney Trading Up 3.1 %

The stock has a market cap of $190.28 billion, a price-to-earnings ratio of 34.29, a P/E/G ratio of 1.80 and a beta of 1.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.68 and a quick ratio of 0.62. The business’s 50 day moving average is $93.92 and its 200 day moving average is $104.05.

Walt Disney Company Profile

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.